Ieq Capital LLC Grows Stock Position in Medtronic PLC $MDT

Key Points

• Ieq Capital LLC raised its stake in Medtronic PLC by 64.4%, bringing its total shares to 165,333, valued at approximately $14.86 million as of the latest quarter.
• Medtronic's stock has received positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $102.14.
• The company announced a quarterly dividend of $0.71, set to be paid on October 17th, providing an annualized yield of 3.1%.

Ieq Capital LLC lifted its stake in Medtronic PLC (NYSE:MDT - Free Report) by 64.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,333 shares of the medical technology company's stock after purchasing an additional 64,747 shares during the quarter. Ieq Capital LLC's holdings in Medtronic were worth $14,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of MDT. Burkett Financial Services LLC raised its position in shares of Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new position in Medtronic in the 4th quarter worth about $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic in the 1st quarter worth about $28,000. Optiver Holding B.V. purchased a new position in Medtronic in the 4th quarter worth about $31,000. Finally, Hughes Financial Services LLC purchased a new position in Medtronic in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insiders Place Their Bets

In related news, Director William R. Jellison purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sanford C. Bernstein boosted their target price on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Wall Street Zen raised Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday. William Blair raised Medtronic to a "hold" rating in a research report on Friday, July 11th. Argus boosted their target price on Medtronic from $105.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, Truist Financial boosted their target price on Medtronic from $92.00 to $96.00 and gave the stock a "hold" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Price Performance

Shares of MDT traded up $0.76 during mid-day trading on Monday, hitting $92.72. 5,174,507 shares of the stock were exchanged, compared to its average volume of 7,443,253. The company has a market cap of $118.93 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $96.25. The firm has a 50-day moving average of $90.31 and a two-hundred day moving average of $88.02. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts predict that Medtronic PLC will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 26th. Medtronic's dividend payout ratio is presently 78.24%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.